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Affordable Housing in Zip Code 30265: Analysis of LIHTC Projects and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 30265 in Georgia covers an area of 45.31 square miles with a population of 41,885 as of 2022. This zip code contains 3 Low-Income Housing Tax Credit (LIHTC) funded projects, providing 84 affordable housing units, of which 72 are designated as low-income units. Based on the estimated housing inventory of 16,048 units, the LIHTC-funded affordable housing represents approximately 0.52% of the zip code's housing stock.
The LIHTC projects in zip code 30265 have received $797,993 in tax credits, averaging about $9,500 per unit when distributed across the 84 total units. This funding accounts for 0.24% of the total LIHTC credits allocated to the state of Georgia. The earliest LIHTC project in the zip code, Foxworth Forest, was completed in 1993, while the most recent, Newnan Crossing Apartments, was finished in 2005. This indicates that affordable housing has been present in the area for at least three decades. The 1990s experienced the most LIHTC development activity in this zip code.
The unit breakdown of LIHTC projects in the area includes 8 one-bedroom and 4 two-bedroom units. The configurations of the remaining units are not specified in the available data.
Over the past decade, zip code 30265 has experienced steady population growth, increasing from 36,043 in 2013 to 41,885 in 2022. The median income has also risen, from $81,344 in 2013 to $92,052 in 2022, indicating an overall improvement in economic conditions.
Racial demographics in zip code 30265 have shifted slightly, with the white population decreasing from 72% in 2013 to 67% in 2022, while the Black population increased from 14% to 17%. The Hispanic population remained relatively stable, growing from 8% to 10% during this period.
Despite the population growth and rising median income, there have been no new LIHTC projects completed in zip code 30265 in the last decade. This could suggest that other affordable housing initiatives may be addressing low-income housing needs or that the focus has shifted to other areas with more pressing affordable housing demands.
Zip code 30265 has a modest LIHTC-funded affordable housing inventory, covering about 0.52% of the estimated housing stock. The area has seen consistent population growth and increasing median incomes over the past decade. While LIHTC development has not been active in recent years, the existing projects continue to provide affordable housing options in a zip code that has experienced economic growth and demographic shifts.
